Auto Loan Refinance Calculator
See if refinancing your car loan saves money.
Enter your values
Enter the remaining loan balance in $.
Enter the current apr in %.
Enter the months remaining in months.
Enter the new apr in %.
Enter the new loan term in months.
Enter the refinance fees in $.
Results update instantly as you type — no submit needed. Your values are remembered on this device, and the shareable link reopens the calculator with exactly these numbers.
- Monthly payment change
- $421.91 vs $443.67
- Monthly savings
- $21.76
- Total cost, current loan
- $21,296.13
- Total cost, new loan (incl. fees)
- $20,401.48
- Lifetime savings
- $894.66
Quick answer
Refinancing lowers your payment when the new rate is meaningfully below your current rate, but stretching the term can increase total interest even if the payment drops.
Payment = P x r / (1 - (1+r)^-n)
At a glance
| What it does | See if refinancing your car loan saves money. |
|---|---|
| Category | Finance |
| Inputs needed | Remaining loan balance, Current APR, Months remaining, New APR, New loan term, Refinance fees |
| Main output | Monthly payment change |
| Formula | Payment = P x r / (1 - (1+r)^-n) |
| Cost | Free — no sign-up, no download |
How to use the Auto Loan Refinance Calculator
- 1Enter your remaining balance and current loan terms.
- 2Enter the new rate and term you are quoted.
- 3Compare total cost, not just the monthly payment — a longer term can hide added interest.
Inputs explained
- Remaining loan balance($)
- Enter the remaining loan balance in $.
- Current APR(%)
- Enter the current apr in %.
- Months remaining(months)
- Enter the months remaining in months.
- New APR(%)
- Enter the new apr in %.
- New loan term(months)
- Enter the new loan term in months.
- Refinance fees($)
- Enter the refinance fees in $.
Worked example
Using the values the calculator loads with:
Inputs
- Remaining loan balance18000 $
- Current APR8.5 %
- Months remaining48 months
- New APR5.9 %
- New loan term48 months
- Refinance fees150 $
Results
- Monthly payment change$421.91 vs $443.67
- Monthly savings$21.76
- Total cost, current loan$21,296.13
- Total cost, new loan (incl. fees)$20,401.48
- Lifetime savings$894.66
Frequently asked questions
Is refinancing always worth it?
Only if the new APR is enough lower to beat any fees, and you don't stretch the term so far that total interest rises.
Does refinancing hurt my credit?
A hard inquiry causes a small, temporary dip, usually recovered within a few months of on-time payments.
What do I need to enter into the Auto Loan Refinance Calculator?
Just 6 values: remaining loan balance, current apr, months remaining, new apr, new loan term, refinance fees. Every field starts with a realistic example, so you can change one number at a time and watch the result update instantly.
How does the Auto Loan Refinance Calculator work out the answer?
Refinancing lowers your payment when the new rate is meaningfully below your current rate, but stretching the term can increase total interest even if the payment drops. It applies the formula Payment = P x r / (1 - (1+r)^-n) and shows the working so you can check each step by hand.
Is the Auto Loan Refinance Calculator free, and do I need an account?
It is completely free with no sign-up, no download and no usage limit. Everything is calculated in your browser, so the numbers you type never leave your device.
Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.